IndyCar stalwart Panther DRR faces closure after Indy 500

Sponsor problems mean the end looms without an influx of cash

For Panther DRR, one of the oldest IZOD IndyCar Series teams, the fickle world of motor racing sponsorships has left the proud organization in a lurch.

At approximately $6 million per year to run a single IndyCar program, it takes a decent sum to contest the 16 race weekends that comprise the IndyCar Series championship, but that $6 million figure does a lot more than deliver a team from round to round.

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It covers everything from the mechanics to the receptionist to employee benefits. On the competition side, it pays for track testing, logistics, the $695,000 engine lease, the nearly $550,000 tire lease, and every other imaginable expense that's incurred running a top-flight race team.

Most teams complete the majority of their sponsorship packages during the off-season, while many fill 80 to 90 percent of their budgetary needs prior to the season and search for the rest once the season gets under way.

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In the case of Panther DRR, a leap of faith was required when a sponsor, thought to represent nearly half the team's required budget for 2013, failed to deliver right before the season opener last month.

So far, the team's faith that a new sponsor (or sponsors) would surface during the last three races has gone unanswered. And while Panther DRR's remaining
supporters were able to carry them through the beginning of the season, these funds are rapidly dwindling. Without a rapid and steady influx of finances,
the team—coming off its best finish of the year last weekend at the Long Beach Grand Prix—will have to close up shop after the 97th Indianapolis
500 on May 26. Panther DRR's IndyCar driver Oriol Servia said, "I knew we were a little short, and one big deal fell through at the last second. But I
figured we'd be okay."

With a one-month expiration date looming, team owner Dennis Reinbold continues to go about business as usual, relying on his team's prowess to get them
through this financial crisis: "We made the choice to go racing after the sponsorship deal fell through at the last minute," said Reinbold. "The only way
we're going to attract a new sponsor or maybe an individual who wants to join forces is to be competitive. And we've spent the money to do that. We've
probably done more test days than anyone: We've done damper development, been on the [7-post] shaker rig, and the results are showing.

"You'd probably want to conserve every penny to stretch things as far as possible when you're in our situation, but that's going to leave you running at
the back of the field; and no one wants to come onboard when you can't look them in the eye and say you can put your car and their company up towards the
lead pack. So that's the decision we made. But now we're getting down to having to make some tough calls. We can't keep going without support, but I know
we have a lot to offer."

Whether Panther DRR wins the race to stay in business will be determined after the checkered flag waves at Indy. Look for them to try and take it.